iShares NAFTRAC, the first exchange traded fund to launch in Latin America, is now the largest ETF in the region with USD6.0bn in assets under management (AUM), at end February 2011.
Launched in in 2002 and designed to track the Mexican IPC Index, iShares acquired the ETF from Nacional Financiera on 14 May 2009, and it has since been renamed iShares NAFTRAC.
At the end of February 2011, there were 422 ETF/ETP listings in Latin America, of which 26 are locally domiciled ETFs/ETPs with assets of USD10.2bn from four providers on two exchanges (BM&F Bovespa, Mexican Stock Exchange), while 396 are cross listings from fifteen providers on two exchanges (Mexican Stock Exchange, Bolsa Comercio Santiago). At the end of February 2011, there were 363 ETFs/ETPs listed in Mexico, 52 ETFs/ETPs listed in Chile, 313 ETFs registered for sale in Chile and 296 ETFs/ETPs registered for sale in Peru.
2011 YTD, assets in ETFs/ETPs listed in Latin America have increased by 0.9% to USD10.2bn. This compared to the 2.8% decrease in the MSCI EM Latin America Index in US dollar terms over the same period.
Year to date, ETFs/ETPs listed in Latin America have seen net inflows of USD0.4 Bn YTD, where ETFs/ETPs providing exposure to Mexico experienced net inflows of USD0.6bn while ETFs/ETPs providing exposure to Brazil saw net outflows of USD0.3bn. In 2010, ETFs/ETPs listed in Latin America had net outflows of USD1.9bn, of which ETFs/ETPs providing exposure to Mexico saw net outflows of USD3.3bn, while ETFs/ETPs providing exposure to Brazil saw net inflows of USD1.4bn.